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Oil forecast to reach $US80 by 2020 as output growth slows, says IEA

2016-02-22 22:23:09| Oil & Gas - Topix.net

Fawad Razaqzada, a technical analyst in London for forex.com, expects US crude to test its March low of $US42.03 and Brent its January bottom of $US45.19. Oil prices will reach $US80 a barrel by 2020 as global oil supply growth is "seriously" plunging, the head of the International Energy Agency said, suggesting the light at the end of the tunnel for the energy industry is still far away.

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